In an announcement on August 19, SoFi stated that the first American bank connected to the Bitcoin Lightning Network will allow users to send funds abroad directly through the SoFi app, "with lower fees and faster delivery compared to traditional remittance service providers." Technically, USD is converted in real-time to Bitcoin, transmitted via the Lightning network, and instantly converted to local currency at the other end, directly into the recipient's bank account—users do not need a third-party app. SoFi also added that the total fees will be "below the current national average," with exchange rates and fees displayed in advance. This feature will be provided through SoFi Bank, N.A., an FDIC member, which is now open for a waitlist. Related reading: Bitcoin Prize: A solo Bitcoin miner wins $360,000, beating odds of 800 to 1. "SoFi is one of the most innovative and forward-looking financial platforms in America today," Marcus of Lightspark stated in the release. "Digital banks are embracing UMA because it is fast, cheap, and secure, and it uses the only existing open payment network, Bitcoin." SoFi CEO Anthony Noto framed this initiative as a daily utility: "For many SoFi members who regularly send money to loved ones abroad, the ability to transfer at low cost quickly is not just a convenience; it is a significant improvement in their daily financial lives." Marcus amplified this release on X, calling it "a very important milestone," emphasizing the bank's strategic rationale: "The neutrality, openness, and decentralization of Bitcoin make it a very attractive alternative for banks over outdated correspondent banking, rather than other centralized options. No one wants to recreate a closed, company-controlled payment network. Openness will win." In another post, he urged observers to "really digest the importance of major banks in the U.S., Latin America, Europe—and soon everywhere—using Bitcoin as a neutral TCP/IP data packet for fund transactions." Related reading: Strategy just flipped its Bitcoin tactics—here's why it matters now. This announcement positions SoFi within the broader context of major consumer platforms transitioning to Lightning-based settlements. Lightspark previously disclosed partnerships with Revolut, aimed at bringing Lightning and UMA to the UK and European Economic Area, and with Nubank, one of the world's largest digital banks in Brazil, indicating a multi-regional buildout of an "open money grid." In this context, SoFi's U.S. bank charter makes this promotion particularly significant in a regulated banking environment. Whether SoFi is the first U.S. bank to integrate Lightning may depend on definitions and scope. Lightspark's press release describes SoFi as "one of the first American banks to offer blockchain-driven remittance services," while Marcus's post refers to it as the first bank to simultaneously use Bitcoin and UMA for always-online, low-cost global payments. The architecture is indisputable: front-end uses UMA addresses, cross-border routing utilizes Lightning, and fiat comes in and out—SoFi aims to provide remittance costs below average and achieve around-the-clock availability within a mainstream banking app. At the time of publication, the trading price of BTC was $113,627.